Tags: fixing the economists

Two Different Approaches to Economics and One Approach to Pseudo-Economics

October 21st, 2017
in macroeconomics

In the comments to my piece on Janet Yellen the hypocrisy of my position was pointed out, as it so often is, by a certain reader of this blog. What was my hypocrisy on this particular occasion? It was the fact that I complained about Yellen’s obsession with ‘closing’ models but, in other circumstances, more »

Slackers: How the Multiplier Works in the Real World

October 13th, 2017
in aa syndication

In a previous post I wrote about the key reason that the natural rate of interest does not exist. There I discussed the Kahn Multiplier. We saw that when investment increased consumption increased along with it due to the fresh income received from the investment spending. more »

The Natural Rate of Interest Does Not Exist

October 6th, 2017
in macroeconomics, currency / money

I just want to make a quick note on the multiplier and the theory of liquidity preference that is not generally recognised. more »

Why Thomas Piketty is Wrong About Inflation and Interest Rates

October 1st, 2017
in macroeconomics

I have pointed out on here recently that Thomas Piketty’s views on public sector debt are wholly un-Keynesian. Well, we should also point out that his view of inflation and interest rates are also fairly un-Keynesian. more »

I’m Pointing at the Moon, You’re Looking at My Finger: Janet Yellen on Post-Keynesian Economics

Here’s an interesting fact that I’ll bet many of you didn’t know: the current head of the Federal Reserve, Janet Yellen, wrote a short paper in 1980 examining the theories of the Post-Keynesians. You can find it here. more »




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